TOKYO--(BUSINESS WIRE)--Mitsubishi
Electric Corporation (TOKYO: 6503) announced today that it has
reported tax costs of 32.0 billion yen as income taxes in its
consolidated profit and loss statement for the first 9 months of fiscal
2012 ending December 31, 2011, of the current fiscal year ending March
31, 2012 (fiscal 2012).

“Act on
Special Measures for Securing Financial Resources Necessary to Implement
Measures for Reconstruction Following the Great East Japan Earthquake”

Deferred tax assets and liabilities for the first 9 months of fiscal
2012 have been re-evaluated for the reduction of corporate tax rates to
be effective as of April 2012, which follows the promulgation in
December 2011 of the "Act for Partial Revision of the Income Tax Act
etc. for the Purpose of Creating Taxation System Responding to Changes
in Economic and Social Structures" (Act No.114 of 2011) and the "Act on
Special Measures for Securing Financial Resources Necessary to Implement
Measures for Reconstruction Following the Great East Japan Earthquake"
(Act No.117 of 2011).

The revised consolidated earnings forecast for the current fiscal year
which includes effects from these changes has been stated in Mitsubishi
Electric's announcement today of its consolidated financial results for
the first 9 months and third quarter of fiscal 2012.

About Mitsubishi ElectricWith
over 90 years of experience in providing reliable, high-quality products
to both corporate clients and general consumers all over the world,
Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world
leader in the manufacture, marketing and sales of electrical and
electronic equipment used in information processing and communications,
space development and satellite communications, consumer electronics,
industrial technology, energy, transportation and building equipment.
The company recorded consolidated group sales of 3,645.3 billion yen
(US$ 43.9 billion*) in the fiscal year ended March 31, 2011. For more
information visit http://www.MitsubishiElectric.com*At
an exchange rate of 83 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2011